Rajesh rode his bike home from work. There was a nice evening breeze on his face. A car going too fast came very close, and his bike fell over before he could do anything, just a few turns from his street. Broken lights, bent metal, and a twisted frame were the visible signs of the destruction. He was astonished to hear from the insurance company later that the amount he would be paid wouldn't equal the price he paid for the bike. The insurer would only pay the depreciated market value.
That’s when the thought struck him:
“What if there was a way to get the full value of my bike, just like it was on the day I bought it?
Wouldn’t that make facing such incidents a little less painful?”
Many bike owners don’t realize that gap until they face it themselves. This is where the Return to Invoice (RTI) Add-On Cover steps in. It bridges that financial gap and helps you recover the complete invoice value if your bike is stolen or totaled. Let’s explore how this small addition to your policy can offer big relief when you need it the most.
Why Losing Your Bike Can Cost More Than You Think
Losing your bike isn't just about the inconvenience of being without your ride. It hits your pocket harder than many realize. When a bike is stolen or damaged beyond repair, the insurance claim usually compensates based on its current market value and not what you originally paid. This is a crucial difference. Over time, bikes depreciate, and so does their insured declared value (IDV). In other words, if you bought a brand-new bike and paid for registration and road tax, you won't get these costs back in full when you file a normal insurance claim. So, when you lose your bike, you usually have to pay for it yourself, which can be a very expensive experience.
What is Return to Invoice (RTI) Add-On Cover in Bike Insurance?
Return to Invoice, or RTI, is an extra that you can add to your bike insurance that helps you pay this bill. This cover makes sure you get back the full amount you paid for your bike, including the invoice price, registration fees, and road tax. If your bike is stolen or broken beyond repair, this cover will pay you back. RTI protects you against depreciation losses, while most plans settle claims at the IDV. As long as the insurance terms say so, you can use the money to buy the same model or one that is similar without having to pay extra. When you buy a new bike, it's especially helpful because you can be sure that your investment is safe.
Key Features & Benefits of Return to Invoice (RTI) Add-On Cover
Let’s take a closer look at why you may need the Return to Invoice cover:
You can get it as an add-on to comprehensive bike insurance plans or on its own.
It pays the gap between the bike's insured value and its invoice price, which includes fees for registration and road tax.
This only applies if the bike is stolen or completely damaged beyond repair. Small damages do not count.
It usually costs about 10% more than regular complete policies, but it protects you better.
It keeps you from having to pay a lot of money out of your own pocket by covering the full purchase price in case of total loss.
Gives peace of mind, especially to people who just bought a bike or who live in an area where theft is common or who don't have safe parking.
Allows you to replace your bike with one of the same or a similar type without having to worry about money.
Get Quick Support for Your Bike Insurance
Want to know how much this useful bike safety will cost? Do not wait to learn. Check the add-on premium for your type of bike and protect your investment with SMC Insurance right now. Keep yourself safe from losing money out of the blue and ride with trust.
We at SMC Insurance are here to help you find the best insurance plans for your needs. With help from a professional and full coverage, you can successfully protect your bike against theft and total loss.
How Does Return to Invoice (RTI) Add-On Cover in Two Wheeler Insurance Work?
Buying a bike costs more than just the bike itself. You have to pay for registration, road tax, and other fees. The market value or insured stated value (IDV) of your bike goes down over time because it wears out. When you file a normal insurance claim, you get paid based on this value that has dropped. But if your bike is stolen or broken so badly that it can't be fixed, Return to Invoice (RTI) cover pays you the full invoice price you paid, which includes taxes and registration fees. This means you won't have to use your own cash to buy a new bike. But this cover only kicks in if your bike is totally broken or lost, which usually happens when the cost of fixes is more than 70% to 75% of the bike's IDV.
Who Should Buy Return to Invoice (RTI) Add-On Cover in Bike Insurance?
If you have a bike that is new or less than three years old, RTI add-on cover is very helpful. Getting RTI cover is a good idea if you live in a place where bikes are often stolen or don't have a safe place to park your bike. Also, people who ride their bikes a lot or who go to places where accidents are common will benefit from it. RTI is a good choice if you care about your bike's safety and how much it will cost to repair. But for bikes older than a certain age, the price may be higher than the value it brings, so think about what you need.
What is Covered and Not Covered Return to Invoice (RTI) Add-On Cover in Bike Insurance?
What's Covered?
RTI cover pays you back for the full amount of your bike's payment, which includes:
The bike's sale price as it was originally billed. Registration fees paid when the bike was bought.
Road tax and any other taxes the government charges.
loss of value that normal insurance claims don't pay for.
This full refund applies if your bike is stolen and not found or is damaged so badly that it can't be fixed (total loss).
What's Not Covered?
RTI protects a lot of things, but it doesn't cover:
It only applies to total loss, not to minor harm or repairs.
Claims under third-party liability insurance (it only works with full or separate own damage plans).
Electronic or accessories that weren't put by the factory, unless the policy says otherwise.
Theft where the bike is found within a certain amount of time, usually 90 days.
Unauthorised use, driving while drunk, not having a current licence, or commercial use while insured for personal use.
To sum up, RTI add-on cover is an excellent extra layer of protection that fills in the difference in value between how much you paid for your bike and how much is given in a normal claim.
Things to Consider Before Buying RTI Add-On Cover in Bike Insurance
Before you add Return to Invoice (RTI) cover to your bike insurance, it’s important to weigh a few key points:
First, this add-on comes at an extra cost, typically around 10% more than a standard comprehensive policy, so consider your budget.
It is most beneficial if your bike is new or less than three years old, as depreciation hits older bikes hard and RTI might not be cost-effective.
Also, RTI cover only kicks in during a total loss event (like theft or damage beyond repair), not for minor damages, meaning regular repair claims won’t use this cover.
Another factor is the availability timeframe, which usually lasts up to 3-5 years from your bike’s purchase date, depending on the insurer.
And remember, RTI cannot be purchased with third-party liability plans.
Finally, assess your environment: if theft is common in your area or if you lack secure parking, RTI provides stronger financial protection.
Return to Invoice (RTI) Add-On Cover vs Other Bike Insurance Add-Ons
Let’s look at a comparative analysis:
Feature
Return to Invoice (RTI) Cover
Zero Depreciation Cover
Roadside Assistance Add-On
Engine Protect Add-On
Coverage
Pays full invoice price including registration and taxes on total loss or theft
Covers cost of parts without depreciation for repairs
Provides emergency assistance services for breakdowns
Covers engine repairs or replacements due to internal damage
Applicability
Only for total loss or theft
For repairs on minor or major damages
For breakdown scenarios on road
Applies when engine damage occurs
Cost
About 10% extra premium
Usually less than RTI premium
Small additional premium
Moderate additional premium
Benefit
Bridges gap between IDV and original bike cost
Lowers out-of-pocket expenses on repair bills
Convenience and peace of mind
Protects against costly engine failures
Limitations
Not for minor damages, not available with third-party plans
Only parts depreciation, not registration or taxes
Does not cover repair costs
Only covers engine, excludes external damages
Choosing the right add-on depends on your priorities. RTI is great for financial protection against theft or total loss, zero depreciation helps with repair costs, roadside assistance offers convenience, and engine protection safeguards specific engine risks.
How to Buy RTI Add-On Cover from SMC Insurance?
Buying the Return to Invoice add-on cover for your bike insurance through SMC Insurance is simple and hassle-free. Here’s a step-by-step guide to get you started:
Visit SMC Insurance website and go to the "Bike Insurance" section.
Enter your bike details such as brand, model, registration city, and purchase year.
Choose a comprehensive or standalone own-damage bike insurance plan that suits your needs.
When selecting add-ons, opt for the “Return to Invoice (RTI) Cover” add-on.
Review the premium quote including RTI costs - typically around 10% higher than the base plan premium.
Fill in your personal details, upload necessary documents, and complete the online payment.
Receive your policy documents instantly via email or SMS for convenient access.
And if you prefer personal assistance, simply call the SMC Insurance customer care or chat with an expert on the website to help you pick and buy the right RTI policy tailored to your bike.
Buy/Renew Two Wheeler Insurance & Save Up to 75%
Curious about how much the RTI add-on premium will cost for your specific bike? Don’t wait! Check the add-on premium tailored just for your bike model and city with SMC Insurance.
Premium & Cost Example
Let’s break down the numbers so you can see why the RTI add-on is worth it:
Suppose you bought your bike for Rs. 1.5 lakh.
After one year, the Insured Declared Value (IDV) drops because of depreciation. Without RTI, say IDV now is Rs. 1.2 lakh.
If your bike is stolen or totaled without RTI, you only get the Rs. 1.2 lakh market value—leaving you to cover the missing Rs. 30,000+ out of pocket.
By adding RTI, you pay roughly 10% extra premium on top of your standard premium. For instance, if your base premium is Rs. 3,000 annually, RTI may add around Rs. 300.
That small extra Rs. 300 safeguards a potential loss of Rs. 30,000, which is a great return on investment.
In other words, for a minimal premium increase, RTI helps you recover the full amount you originally paid for your bike, including registration and taxes, something standard policies don’t cover.
How to Claim RTI Add-On Cover?
Claiming the Return to Invoice (RTI) add-on cover with SMC Insurance is straightforward when you experience theft or total loss of your bike:
First, immediately inform the insurer by raising a claim via the SMC Insurance website, mobile app, or customer care.
Next, lodge a First Information Report (FIR) with the police if your bike is stolen, and keep the copy handy.
Submit the claim request along with the necessary documents like your insurance policy, FIR, original purchase invoice, and repair estimates or loss assessment reports if applicable.
Once the claim is verified and approved under the RTI clause, you become eligible for compensation up to the full invoice/on-road price as per your policy terms (which may include registration and road tax charges).
Throughout the process, SMC Insurance's support team guides you step-by-step to make the experience hassle-free.
Note: RTI cover will apply only if the vehicle is irreparably damaged or stolen/unrecoverable, as defined in the policy document.
Need Quick Support? Speak to a Bike Insurance Expert
Is your bike stolen or damaged beyond repair? Don’t wait! Submit your claim or check your eligibility for the RTI add-on cover now with SMC Insurance. Get the full protection you deserve.
Documents Required to Claim
To claim the RTI add-on cover, be ready to provide these important documents:
Insurance policy document
Valid vehicle registration certificate (RC)
Copy of the FIR filed with the police (in case of theft)
Original purchase invoice of the bike (shows invoice price)
Estimate of repair or loss assessment report from authorized service center
Identity proof (Aadhar, PAN, Passport, etc.)
Bank account proof
Any other documents requested by the insurer for claim verification
Note: Check the policy wording for exclusions such as vehicle age limits, bike recovery within certain days of theft, use for commercial purposes when insured for personal use, etc.
Buy/Renew Bike Insurance and Save up to 75%
Ready to claim your Return to Invoice cover? Start your claim with SMC Insurance today! Upload your documents securely and let our experts handle the rest. Peace of mind is just a few clicks away.
The company is wonderful insurance platform providing multiple policies under 1 roof. Experience in purchasing the policy is very good. Experts guides you very well
Annu Gour Annu Pune, April 07, 2025
Easy Renewal process
The process to renew my 2-wheeler policy is indeed very quick and easy. Got it done in just 10 minutes. Thanks.
Bipin Singh Mumbai, April 06, 2025
Quick Response
I thought let me renew my two wheeler policy with SMC and see the experience. The experience was good and simple, the only gap which I felt was that the details of the vehicle did not come up after mentioning the vehicle number.
Disclaimer: The information provided on this platform is intended for general awareness and educational purposes. While every effort is made to ensure accuracy, some details may change with policy updates, regulatory revisions, or insurer-specific modifications. Readers should verify current terms and conditions directly with relevant insurers or through professional consultation before making any decision.
All views and analyses presented are based on publicly available data, internal research, and other sources considered reliable at the time of writing. These do not constitute professional advice, recommendations, or guarantees of any product’s performance. Readers are encouraged to assess the information independently and seek qualified guidance suited to their individual requirements. Customers are advised to review official sales brochures, policy documents, and disclosures before proceeding with any purchase or commitment.
FAQs
Return to Invoice (RTI) cover ensures you get the full original invoice price of your bike including registration and taxes if it is stolen or damaged beyond repair.
No, RTI is not available with third-party insurance plans. You must have a comprehensive or own damage policy to opt for RTI.
Typically, RTI add-on is available for up to 3-5 years from the bike's purchase date, depending on the insurer.
No, the cover applies only when the bike is stolen or declared a total loss. Minor damage repairs are not included.
You�ll need your insurance policy, vehicle registration certificate, FIR (in case of theft), original purchase invoice, repair or loss estimate, and identity proof.
If your bike is recovered within a specified period (usually 90 days), RTI claims may not be processed or will be adjusted accordingly.
Yes, RTI covers registration charges, road tax, and other applicable taxes included in the original invoice.
RTI typically costs about 10% extra premium on top of the base comprehensive or own damage premium.
IDV is the market value of your bike after depreciation. RTI pays you the original invoice price that you actually paid, protecting you against depreciation losses.
RTI generally does not cover accessories unless insured separately. Check your policy terms.
RTI helps you replace your bike at the original cost if stolen or totaled, but it does not directly impact resale value.
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